Talent Management Practices in Banking Sector

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Talent Management

Practices in Banking Sector

Presented By:

Vinaya Gedam 34277

Priyanka Pandey 34288

Shraddha Pathare 34289

Sphurthi Potturi 34290



Outline

Indian Banking : Current Scenario

Banking System

Current Practices of Talent Management

Levers of Change

Examples

Case Studies



Indian Banking – Current Scenario

Rapidly Globalizing

Very Competitive Environment

More demanding & sincere

Customers

IT-enabled growth



Indian Banking System

Commercial

Banks

Public Sector Private Banks Foreign BanksCo-operative

Banks

UrbanCooperative

StateCooperative

CentralCooperative



Talent Management: Implications



“Indian Banking: Towards Global Best Practices” by McKinsey &Company and Indian Banks Association, Nov 2007:

“ The survey shows that the severe lack of superior talent ad

new-age leaders is acute and crippling for Indian banks. They need to act urgently to attract, hire, develop and retain the

best available talent to ensure sustained growth in the long

term”



A wide range of talent management practices are only

“partly in place” at most banks

Current Practices in Talent Management


http://slidepdf.com/reader/full/talent-management-practices-in-banking-sector 8/23Source: McKinsey & Company and India Banks Association, Nov 2007



Banks depend heavily on internal talent andlack succession planning capabilities




Banks have limited ability to rely on talent pipeline

Source: McKinsey & Company and India Banks Association, Nov 2007



Banks are under-developing high-performing talent, creatingsevere threats to retention of key-personnel and longer-term

productivity




High Potential Employee

Source : The Corporate Council’s Leadership Model of Employee Potential, 2008


http://slidepdf.com/reader/full/talent-management-practices-in-banking-sector 13/23Source: McKinsey & Company and India Banks Association, Nov 2007



Levers of Change for Talent Management

Talent strategy aligned with Business Strategy of banks

Efforts towards building strong Talent Pipeline to fill

Leadership positions

Invest in the “Best”

Accountability Building practices

SAP ERP HRM

Source : Development Dimensions International Inc Survey of Indian Banks, April 2008



Examples:



Grooming Leaders for Adaptive Challenges:

The ICICI Way

Chanda Kochar- From Trainee to CEO

ICICI DNA

Group Mentoring versus Individual Mentoring Talent Building: Action-Behaviour-Consequence model

o Junior Level: Consistent Passion

o Middle Level: Ability to build capability internally

o Senior Level: Agenda for change



Productive Work Environment-

Reserve Bank of India

Major Issue: Lack of Compensation

Turning Constraints into Opportunities

Loyalty Contract versus Psychological Contract

Talent Management Models

(i) Talent based on stellar performers

(ii) Talent based on robust systems



Managing Talent: Canara Bank

“Treat people as if they were what they ought to be,

and you help them become what they are capable of

being”

• Employee rewards and recognition beyond

compensation and benefits

• HRM policies in line with the needs of the present

and the expectations of the future.

• 2020 club



Leading The Way Through:

Standard Chartered‘Leading by Example to be The Right Partner’

Five values – Creative, Responsive, International, Courageousand Trustworthy

‘Strengths-based’ philosophy: Online Self Assessment

Focus on executive development and internal Core Programs

Employee Engagement= Strong People Managers



Case Studies:



Project Parivartan: State Bank of India

The success of the Bank's transformation depends crucially on its

people."

OP Bhatt, Chairman, State Bank of India, in 2007

• Issue: Competition from Private Players-Talent Retention

• Agenda: Total Transformation- Parivartan Internal

Communication Initiative



Human Capital Initiatives: Yes bank

Issues:

• Differentiating itself from its competitors

• Start-up Organization

Agenda: • ‘Knowledge banking' approach

• Emphasis on human capital

• Projecting itself as an 'aspirational' employer in the Indian

banking sector• Innovative HR initiatives



Thank You

Talent Management Practices in Banking Sector

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